DGAP-News: Masterflex AG / Key word(s): Final Results Masterflex AG: Markedly good 2011 financial year as a foundation for long-term value-oriented growth 29.03.2012 / 10:30 --------------------------------------------------------------------- Masterflex AG: Markedly good 2011 financial year as a foundation for long-term value-oriented growth - Provisional figures confirmed: Revenue EUR 53.0 million, EBIT margin 14.2% - Net profit for the year of EUR 3.9 million - Earnings per share at EUR 0.44 - Outlook for anniversary year 2012: Revenue EUR 57 - 58 million, EBIT EUR 8 million - Long-term goal: Global market leader for connection solutions Gelsenkirchen, 29 March 2012 - Masterflex AG, the specialist for high-tech hoses and connector systems, continued its extremely positive business development in 2011 and reported net profit for the year of EUR 3.9 million (previous year: EUR -2.3 million) following the successful completion of the restructuring. CEO Dr Andreas Bastin: 'Our business has again provided impressive evidence of its strengths and profitability in the past twelve months. We also used the first year following our refocusing to set the course for sustainable, value-oriented growth. Masterflex will grow, but not at any cost, rather profitably and in the long-term. Our goal: we want to become the global market leader in the specialist connector system market.' At today's financials press conference, Masterflex confirmed the pre-publication provisional figures for the 2011 financial year. Revenue increased from EUR 46.1 million to EUR 53.0 million (+15.1%). Operating earnings before interest and taxes (EBIT) increased by 16.4% from EUR 6.4 million (2010) to EUR 7.5 million. Earnings are thus significantly higher than the self-set target of EUR 7.0 million. Overall consolidated net income was positive again with a contribution of EUR 4.1 million (previous year: EUR -2.2 million), of which EUR 3.9 million is allotted to the Masterflex shareholders. Due to a positive non-recurring effect in the previous year (debt waiver from banks of EUR 10.2 million in 2010), earnings from continued business units at EUR 4.3 million this year are below those of the previous year (EUR 8.1 million). For the same reason, the return on sales of 17.6% (2010) decreased to 8.0% in 2011. Thanks to the net income for the year, the equity ratio climbed significantly to 31.9% as against 18.6% in the previous year. At this level the equity ratio is already above the level that Masterflex had determined as a medium-term target just one year ago. Earnings per share moved into positive territory (previous year: EUR -0.49) and now stand at EUR 0.44. In the past year, the last traces of the failed diversification of the last decade were eliminated. All Mobility activities were disposed of in 2011. With that, Masterflex is now finally a company concentrating purely on business with high-tech connectors. The legal dispute with a bank, senior shareholders and an insurance company from this time was also successfully concluded in an out-of-court settlement and with non-operating earnings of EUR 0.9 million. Moreover, the new shares from the 2010 capital increase were admitted for stock exchange trading in June 2011. In addition, Masterflex continued its internationalisation. After the sales launch in the Czech Republic in summer 2011, the first steps were taken towards Asia and China in particular. Alongside formalities such as founding the necessary companies, managers and the first members of staff were recruited. The location issues were also clarified: the holding company and the sales team for Asia is established in Singapore; a regional sales office and production site will start work in Chinese Kunshan in the course of 2012. In addition, the strategic orientation of Masterflex was advanced on the basis of extensive market research. CEO Bastin: 'Masterflex sees itself as a provider of solutions for connection problems. Our vision is global market leadership in all the specialist markets addressed for this purpose. To achieve this, we offer customised, sophisticated products with added value for our customers. Our sales team works on the basis of high levels of expertise in terms of the application of these products. This consultation-oriented specialist market strategy differentiates us from other hose manufacturers.' The first steps down this long-term road have already been taken. Bastin: 'Despite heightened uncertainty over economic development, we have started 2012 with a tailwind. Our future prospects are good, since we are ideally positioned thanks to our materials and innovation expertise. And we are delighted by every shareholder who wants to accompany us on our journey to the top.' |[![CDATA[|[pre|]]]|] 31.12.2011 31.12- Cha- .2010 nge Consolidated revenue (EUR 52,999 46,057 15.1% thousand) EBITDA (EUR thousand) 9,964 9,114 9.3% EBIT (EUR thousand) 7,499 6,445 16.4% EBT (EUR thousand) 5,261 3,104 69.5% Consolidated earnings from continued business 4,256 8,100 - units (EUR thousand) 47.5% Consolidated earnings from discontinued -114 -10,267 98.9% business units (EUR thousand) Consolidated net income/loss (EUR thousand) 3,883 -2,333 - Consolidated equity (EUR 16,239 12,213 33.0% thousand) Consolidated equity ratio 31.9% 18.6% - Consolidated total assets (EUR thousand) 50,930 65,416 - 22.1% Employees 448 397 12.8% EBIT margin 14.2% 14.0% Return on sales 8.0% 17.6% Consolidated earnings per share (EUR) from continued business units 0.45 1.67 - 73.1% from discontinued business units -0.01 -2.16 99.5% from continued and discontinued business 0.44 -0.49 units |[![CDATA[|[/pre|]]]|] For any questions, please contact Dr. Annette Littmann, phone +49 209 970 77 44 and Email annette.littmann@masterflex.de. End of Corporate News --------------------------------------------------------------------- 29.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Masterflex AG Willy-Brandt-Allee 300 45891 Gelsenkirchen Germany Phone: +49 (0)209 97077-44 Fax: +49 (0)209 97077-20 E-mail: annette.littmann@masterflex.de Internet: www.masterflex.de ISIN: DE0005492938 WKN: 549 293 Indices: Prime all share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 162854 29.03.2012
DGAP-News: Masterflex AG: Markedly good 2011 financial year as a foundation for long-term value-oriented growth
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